Hello Spidell: I have a partnership return that shows very little income and a sizeable interest expense deduction derived from funds borrowed to buy inventory a number of years ago. The partnership is winding down and plans to go out of business. There are only 2 partners and the gross receipts are nowhere near 25 million. Do I understand correctly that the deductible interest expense will be limited at the partnership level, by 30% of the net business income? (amongst other things) Does the 1065 have to file form 8990? (which Lacerte does not offer yet) Does this effectively mean that the K-1s will show a dramatic decrease in net partnership loss? The interest expense is now the partnership’s largest expense. Thank you so much for any guidance that you can provide.